News

UAE Starts Relying On Emirates ID As Proof Of Residency

Both citizens and residents can look forward to a number of benefits, including easier access to government services, less time spent at airports, and more.

Published

2 years ago

April 19, 2022

David Morelo

uae starts relying on emirates id as proof of residency

UAE ICP

From April 11, the United Arab Emirates (UAE) has started relying on Emirates ID as proof of residency, suspending the issuance of residence visa stamps.

Emirates ID is a smart identity card issued by Federal Authority for Identity and Citizenship. All UAE citizens and residents must apply for it by filling the eForm at one of the authorized typing centers or through the online form available on website of Federal Authority for Identity and Citizenship (FAIC).

Each Emirates ID has an electronic chip that can store up to 32,000 letters of information. The stored information can be encrypted in order to protect the privacy of card holders and prevent unauthorized third-parties from stealing it for malicious purposes.

By switching to a modern smart identity card, the UAE is taking yet another step on its smart-city journey. Both citizens and residents can look forward to a number of benefits, including easier access to government services, less time spent at airports, and more.

Those who have registered for smart gates at airports in the UAE can pass through them by simply looking at the green light on top of the camera to verify the biometric information contained within the Emirates ID chip.

Also Read: How To Change The Mobile Number On Your Emirates ID

The replacement of residence vista stamps by Emirates ID has been made possible by the last update of the advanced card, which was introduced in August 2021 by the Federal Authority for Identity and Citizenship (ICA).

The update added several new features, including a laser-printed 3D picture, additional fields and codes definition, advanced technical characteristics, and increased data protection. The latest generation of Emirates ID cards is made using polycarbonate that should last more than 10 years and survive countless washing machine accidents and other horrors that cards typically go through.

News

Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

1 day ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.